Analysts expect that Extreme Networks, Inc. (NASDAQ:EXTR) will report $241.78 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Extreme Networks’ earnings, with the highest sales estimate coming in at $243.55 million and the lowest estimate coming in at $240.00 million. Extreme Networks reported sales of $267.47 million in the same quarter last year, which indicates a negative year over year growth rate of 9.6%. The company is scheduled to announce its next earnings report on Wednesday, February 3rd.
On average, analysts expect that Extreme Networks will report full-year sales of $954.58 million for the current financial year, with estimates ranging from $947.60 million to $961.56 million. For the next year, analysts expect that the firm will post sales of $986.89 million, with estimates ranging from $983.70 million to $990.07 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Extreme Networks.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. Extreme Networks had a negative net margin of 10.55% and a negative return on equity of 114.29%. The business had revenue of $235.80 million during the quarter, compared to the consensus estimate of $234.70 million.
EXTR has been the topic of several research analyst reports. B. Riley raised their target price on shares of Extreme Networks from $9.00 to $9.50 in a research report on Friday, October 9th. BidaskClub raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 8th. Finally, Zacks Investment Research lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Monday, December 14th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $6.30.
In related news, Director Raj Khanna bought 10,000 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was purchased at an average price of $4.43 per share, with a total value of $44,300.00. Following the completion of the transaction, the director now directly owns 179,883 shares of the company’s stock, valued at $796,881.69. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Edward Meyercord sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 30th. The stock was sold at an average price of $5.61, for a total value of $280,500.00. Following the sale, the chief executive officer now directly owns 592,522 shares of the company’s stock, valued at approximately $3,324,048.42. The disclosure for this sale can be found here. 3.15% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. raised its stake in Extreme Networks by 2.6% during the second quarter. American International Group Inc. now owns 82,779 shares of the technology company’s stock worth $359,000 after acquiring an additional 2,060 shares in the last quarter. Aperio Group LLC boosted its holdings in Extreme Networks by 11.4% during the third quarter. Aperio Group LLC now owns 27,330 shares of the technology company’s stock worth $110,000 after buying an additional 2,795 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Extreme Networks by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 113,383 shares of the technology company’s stock valued at $455,000 after purchasing an additional 2,920 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Extreme Networks by 4.9% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 122,711 shares of the technology company’s stock valued at $493,000 after purchasing an additional 5,760 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Extreme Networks by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 802,538 shares of the technology company’s stock valued at $3,227,000 after buying an additional 5,825 shares during the last quarter. Institutional investors and hedge funds own 73.03% of the company’s stock.
Shares of NASDAQ EXTR traded down $0.24 during midday trading on Tuesday, reaching $6.76. 1,038,901 shares of the stock were exchanged, compared to its average volume of 1,377,974. The stock has a 50 day moving average price of $6.08 and a 200-day moving average price of $4.77. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 33.85. Extreme Networks has a 52-week low of $1.43 and a 52-week high of $8.00. The company has a market capitalization of $831.57 million, a P/E ratio of -8.24 and a beta of 2.11.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise, data center, and service provider customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops software for network management, policy, analytics, security, and access controls.
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